Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1887-01-18
"COLD SHORTS" LETTER.


Capitalists Urged to Invest In Industrial
Enterprises-State Of the Iron Trade.
Alluding to the industrial activity now
being displapad in the upper Ohio Valley
and commedtipg upon the reluctance ol
capitalists to put their money into enter
prises certain to make very reasonable
return upon the investment, Gold Short
says in the current number Of the Age o.
Scei:-
There are blocks of capital in this dis
trict which are not remarkable for liberal
enterprise. In a region peculiarly adapted
TO manufactures, and in which the bulk OF
the belongings and wealth came from
manufactures, hesitating, cent. per cent.
capitalists are incongruous. If foreign
real estate, ground rents and improve
ments are the dcsideratums, those owning
them should live with them and give place
to industrial spirits who are willing to en-
rich this productive soil with portion at
least oithe financial harvest CLEANED from
it; not rob it or suck from it all its sub
stance to nourish other sections The
spirit of accumulating merely for the love
of boarding is disorganizing element in
our republican system, for it restraints
freedom by robbing the people Of that
which furnishes independence Of life, OF
action.
Rich men who hoard, and invest only
in certaintics, are bad citizens; they are
misers, with only vcneering Of deccncy
enough to make o so-called genteel appear,
ance. They are far worse than the great
monopolists, the Goulds, Vanderbilts, etc.
for these men do make investments which
have an element of hazard in them, such
as railroads, and they furnish employ.
ment TO numbers, and thereby dilluse
or throw into circulation valua.
BILE percentage of the earnings of theiI
wealth, but these real estate holders in
distant cities hug every cent except the
taxes. The only consolation one has, as
against these m0ney-lovers, is that except
the plate on their clskets and their funeral
trappings they can not take any more with
them than the vcriest vagrant that walks
the cutters.
Weighed in the balance, (wcalthyD dust
j. vile a lpaupcrl clay;
Thy scales, mortality. are Just,
To all that pass away
There is but scant Americanism in a
man who has not love of home sufficient tn
assist in developing and expanding the
resources and advantages 0i his native city
or city Of his adoption. These hoarders
are damned while living and execratcd
after death.
Referring 10 the condition of the general
iron market, Mr.. Moore says;
During the past week all grades of pig
iron advanced. Muck bar moved up an.
other notch, and steel rails added at least
81. 80 TO their valuation, This will give
importers an advantage Of close on 10 81
with which TO pay ifcights. This, how
ever, will have but very little present
effect, as the output Of the rail mills il
contracted for some months ahead At
$:i5. j0a'G. This will also interfere some.
what with prospective calculations Of i'm
porters. The demand for I'essemer blooms,
billets and slabs is uaabated, but ~ snme
consumers are diverting their products
and some restraining them, the demand
will likely become iess urgent II il becOm.
ing apparent as books are being balanced,
accounts ad justed and settlements made,
that there is hardly a shadow Of satisfac-
ton in making nails at present ptices. Il
costs not less than 81 and not more than
81 ~ to make nails, or at least IL should
not. At s. Al, with all the allowances, TO
hates, discounts, etc, the margin left will
divide into dollar good many times.
In fact 1t requires pretty able and close
management to keep that margin on the
right side of the profit and loss account.
Nails must advance or the produc-
ton will be restrained until better prices
are forced. Nail makers have had very
veXatious experience for year past, aud
in their behalf matters have not hssn I'm
proving. To be n fairly profitable busi-
ness there should be certain profit of 81
cent per keg two years in three.
''I have an abiding recollection Of some
experience in making nails The change
from iron to steel brought q large measure
Of relief, but there are clements still in the
business that do not contribute to serenity
of temper. Wheeling is virtually the cen
ter Of trade. Pittsburg cares but little for
it-but there are outlying points where the
interests, policies aud ideas diyerge widely
from those which rule in Wheeling and
this prevents that reciprocity Of action
which should obtain. Wheeling nail men
have the largest experience in the business.
and when concentration Of production has
not been deemed advisable there
should ut least be concert Of action.
Iron nails have CEASED 70 be n dis
turbing factor, and the only great inequal-
ity at present existing is in the possession
Of steel anneKes. Ii will no long time
before the Bessemer steel production
reaches sufficient proportions TO equalize
this difference. II is claimed that mild
steel is usurping the position heretofore
occupied by Swedish iron. Such articles
As shovel plate, hoop plate aud small
nails, have been experimeated with and
satisfactory results obtained. II uni
formly practical, this change will work
large results, as Swedish iron costs a.ore
than twice as much as steel billets or
slabs. One hundred and thirty-eight
thousand nirs hundred AID twenty eiQht
cars Of coke were shipped by tho coke
syndicate last year. " this amount
5,1A were shipped TO ST Louis and !, ,56s
to Wheeling
WHEN viii the average citizen stop